German infrastructure group HOCHTIEF has been awarded the contract to design, build/refurbish, finance, and operate two schools in the city of Offenbach, in west-central Germany.
The contract is estimated at €89.2 million and has a concession period of 22 years, including the construction phase. HOCHTIEF is expected to put in a total investment of €60.6 million in the project, it said in a statement.
Planning for the project was expected to begin on July 1 with the construction to be completed in 38 months by HOCHTIEF Construction. While one part of the project comprises the building of a new primary school with a gymnasium, the other part will comprise the refurbishment of an existing school with an extension and a new gymnasium.
Operation of the two schools, which have a total number of 2,500 students, will be carried out by HOCHTIEF Facility Management.
With this new contract, HOCHTIEF Concessions is now responsible for a total of 104 schools, with more than 70,000 students, in Germany, the United Kingdom and Ireland. In addition, the company’s PPP portfolio comprises 28 projects in the areas of social infrastructure and roads.